Workday for Education: Features, Benefits & Costs

Workday for Education

Workday is a cloud-native (SaaS) ERP solution from Workday that provides education companies with the tools they need to streamline operations, improve efficiency, and drive growth. With capabilities spanning Financial Management, Human Capital Management, Payroll, Workforce Planning, and more, Workday addresses the unique challenges facing today's education organizations.

Education companies face increasing pressure around enrollment management and student retention, budget constraints and funding complexity, regulatory compliance and accreditation. Workday provides purpose-built functionality to help organizations overcome these challenges while maintaining compliance with standards such as FERPA, Title IV, accreditation standards.

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Key Features and Modules for Education

Workday offers a comprehensive set of features tailored for education operations:

Fund accounting: Workday provides robust fund accounting capabilities that help education organizations manage their fund accounting processes more effectively, with real-time visibility and automation to reduce manual effort.
Grant management: Workday provides robust grant management capabilities that help education organizations manage their grant management processes more effectively, with real-time visibility and automation to reduce manual effort.
Student information management: Workday provides robust student information management capabilities that help education organizations manage their student information management processes more effectively, with real-time visibility and automation to reduce manual effort.
Procurement: Workday provides robust procurement capabilities that help education organizations manage their procurement processes more effectively, with real-time visibility and automation to reduce manual effort.
HR and payroll: Workday provides robust hr and payroll capabilities that help education organizations manage their hr and payroll processes more effectively, with real-time visibility and automation to reduce manual effort.

Beyond these core modules, Workday offers unified platform for finance and HR, machine learning and AI-powered analytics, and continuous updates with zero downtime to provide a complete solution for education businesses.

Benefits for Education Companies

Implementing Workday can deliver significant benefits for education organizations:

Streamlined fund accounting for restricted and unrestricted funds: Workday's integrated platform ensures that education companies can achieve streamlined fund accounting for restricted and unrestricted funds, reducing inefficiencies and improving overall performance.
Automated grant management and compliance reporting: Workday's integrated platform ensures that education companies can achieve automated grant management and compliance reporting, reducing inefficiencies and improving overall performance.
Improved enrollment forecasting and student lifecycle management: Workday's integrated platform ensures that education companies can achieve improved enrollment forecasting and student lifecycle management, reducing inefficiencies and improving overall performance.
Centralized procurement across campuses: Workday's integrated platform ensures that education companies can achieve centralized procurement across campuses, reducing inefficiencies and improving overall performance.
Integrated HR and payroll for faculty and staff: Workday's integrated platform ensures that education companies can achieve integrated hr and payroll for faculty and staff, reducing inefficiencies and improving overall performance.

Ready to evaluate Workday for your education business? Get a personalized pricing estimate based on your specific requirements, or connect with a certified implementation partner who specializes in education.

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Implementation Considerations

When implementing Workday for a education organization, there are several important factors to consider:

Timeline: A typical Workday implementation for education companies takes 3–12 months, depending on the scope of modules deployed and degree of customization required.
Data migration: Education organizations often have complex data structures spanning fund accounting, grant management, student information management that must be carefully mapped and migrated to Workday.
Regulatory compliance: With education regulations including FERPA and Title IV, the implementation must ensure all compliance requirements are configured from day one.
Change management: Training and change management are critical for adoption. Workday's modern interface and guided workflows can help ease the transition for end users.
Integration requirements: Most education companies need Workday to integrate with existing systems. Workday supports this through open APIs and pre-built connectors, though integration complexity should be scoped early.

Pricing and Cost Considerations

Workday pricing for education companies requires custom quote, enterprise-level pricing. The total cost of ownership depends on:

User count and licensing: $100–$300+/user/month for Financial Management
Modules selected: Education-specific modules such as fund accounting, grant management, student information management may require additional licensing
Implementation services: Professional services for configuration, customization, data migration, and training
Ongoing costs: Annual maintenance, support, and cloud hosting fees

For a detailed cost estimate tailored to your education requirements, get a custom Workday pricing quote.

Why Choose Workday for Education?

Workday stands out as a strong ERP solution for education companies for several key reasons:

Unified platform for finance and HR helps education organizations gain a competitive edge
Machine learning and AI-powered analytics ensures smooth end-to-end operations
Strong workforce planning and analytics supports growth and geographic expansion
Industry-specific functionality for fund accounting, grant management, student information management addresses the unique needs of education businesses
Compliance with FERPA and Title IV is built into the platform

Get Started with Workday for Education

Ready to move forward? Here are your recommended next steps:

Get Workday Pricing — Receive a personalized cost estimate based on your education requirements
Compare Workday — See how Workday compares to other ERP solutions for education
Define Your ERP Requirements — Use our free tool to build your education ERP requirements checklist

Frequently Asked Questions

What is Workday for Education?

Workday for Education is a cloud-native (SaaS) ERP solution designed to help education organizations manage their core business processes including fund accounting, grant management, student information management, procurement. It is developed by Workday and is widely used by education companies ranging from mid-size businesses to large enterprises.

How much does Workday cost for education companies?

Workday pricing for education organizations requires custom quote, enterprise-level pricing. Total cost depends on the number of users, modules selected (such as fund accounting and grant management), and implementation requirements. Get a personalized Workday quote for your education organization.

How long does it take to implement Workday in a education organization?

Implementation timelines for Workday in education typically range from 3 to 12 months, depending on the complexity of operations, number of modules, and extent of customization required. A phased approach is often recommended to reduce risk and accelerate time to value.

Does Workday support FERPA compliance?

Yes, Workday includes features and configurations that support compliance with FERPA, Title IV, accreditation standards. The platform provides audit trails, reporting tools, and process controls that help education organizations meet their regulatory obligations. Implementation partners can further customize compliance workflows to match specific requirements.

Can Workday integrate with other education systems?

Workday offers robust integration capabilities through APIs, middleware, and pre-built connectors that enable connectivity with other education systems including specialized fund accounting software, student information management platforms, and third-party applications. This ensures education companies can maintain a connected technology ecosystem.

What are the main benefits of Workday for education companies?

The primary benefits of Workday for education companies include streamlined fund accounting for restricted and unrestricted funds, automated grant management and compliance reporting, and improved enrollment forecasting and student lifecycle management. The platform also provides unified platform for finance and HR and machine learning and AI-powered analytics to help education organizations improve operational efficiency and drive growth.

Workday for Education: Features, Benefits & Costs